ECONOMICS
MONEY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Another name for house payment is
|
|
rent
|
|
|
notes
|
|
|
mortgage
|
|
|
loan
|
Explanation:
Detailed explanation-1: -A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you’ve borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.
Detailed explanation-2: -A promissory note-sometimes called a mortgage note-is a written promise spelling out the terms of the mortgage. Promissory notes are legally binding documents that require a borrower to repay the lender for the mortgage loan.
Detailed explanation-3: -contract. debt. deed. pledge. title. homeowner’s loan.
There is 1 question to complete.